Inflation Calculator

U.S. Inflation Rate, 1940-2018 ($500,000)

According to the Bureau of Labor Statistics consumer price index, the dollar experienced an average inflation rate of 3.76% per year.
Prices in 2018 are
1682.5% higher than
prices in 1940.

In other words, $500,000 in the year 1940 is equivalent in purchasing power to $8,912,642.86 in 2018, a difference of $8,412,642.86 over 78 years.

Compared to last year's annual rate, the inflation rate in 2018 is now 1.95%1. If this number holds, $500,000 today would be equivalent to $509,739.12 next year.
The current inflation rate page gives more detail on the latest official inflation rates.

$500,000 in 1940 has the same "purchasing power" as $8,912,642.86 in 2018.

Inflation Data Source

Raw data for these calculations comes from
the Bureau of Labor Statistics'
Consumer Price Index
(CPI), established in 1913. Inflation data from 1665 to
1912 is sourced from a historical study conducted by political science
professor Robert Sahr at Oregon State University.

You may use the following MLA citation for this page:
“$500,000 in 1940 → 2018 | Inflation Calculator.” U.S. Official Inflation Data, Alioth Finance, 24 May. 2018, https://www.officialdata.org/1940-dollars?amount=500000.